REG - Knights Group Hldgs - AGM Statement

Knights groupAnnouncement

24/09/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240924:nRSX3053Fa&default-theme=true

RNS Number : 3053F  Knights Group Holdings PLC  24 September 2024

Knights Group Holdings plc

("Knights", the "Company" or the "Group")

 

Annual General Meeting

Knights today holds its Annual General Meeting at 10:30am on 24 September 2024
at Riverside Court, Wilmslow, Cheshire, SK9 1DL.

At the AGM, the Group's Chairman, Dave Wilson, will make the following
remarks:

"Knights delivered a good financial performance for the last financial year
with underlying PBT(1) growth of 17% against a challenging market backdrop.
This performance reflected the strength of our diversified service offering,
and continued execution against our strategy, and built on our strong track
record of profitable growth."

"Our unique culture continues to be a differentiator for us in the UK legal
market and a key driver of our momentum in attracting new talent, through both
recruitment and acquisition. This underpins the Board's confidence in the
current year."

Further details can be found on Knights' website:
https://www.knightsplc.com/investors
(https://protect.checkpoint.com/v2/___https:/www.knightsplc.com/investors___.bXQtcHJvZC1jcC1ldXcyLTE6bmV4dDE1OmM6bzo1YTRhZjYzYWE5ZGE5ZmRiMjhlYmEzOWRmMzE3MjlmODo2OmIwYzI6OTIyMDk4YThhZWU2YWIwYjU1OWY2MzM2OGMzNGQxY2JlNTExMGVlNmZiMzdlYzQ1MDZiMTAwMzQxNTA1OWIzMTpwOkY6Tg)

Footnotes

(1         ) Underlying PBT is before amortisation of acquired
intangibles, non-underlying operating expenses, and non-underlying finance
costs. Non-underlying operating expenses include transaction and onerous lease
expenses in relation to acquisitions, contingent acquisition payments,
disposal of acquired assets, along with one-off restructuring staff and
professional expenses, mainly incurred on acquisitions, through streamlining
support functions or strategic reorganisations.

Contingent acquisition payments are treated as a non-underlying expense as
this represents payments for acquisitions which are dependent on the continued
employment of certain individuals in the business for an agreed contractual
period after an acquisition of one to three years to preserve the acquired
goodwill and customer relationships. Accounting standards require such
arrangements to be treated as remuneration in the Statement of Comprehensive
Income. However, the individuals also receive market rate salaries, therefore,
if not separately identified, these payments would significantly distort the
reported results.

 

Ends

 Knights
 David Beech, CEO                               Via MHP Group
 Deutshe Numis (Nomad and Broker)
 Stuart Skinner, Kevin Cruickshank              020 7260 1000
 MHP Group (Media enquiries)
 Katie Hunt, Eleni Menikou, Rob Collett-Creedy  020 3128 8100 / 07884 494112

knights@mhpgroup.com

 

Notes to Editors

Knights is a fast-growing legal and professional services business, ranked
within the UK's top 50 largest law firms by revenue. Knights was one of the
first law firms in the UK to move from the traditional partnership model to a
corporate structure in 2012 and has since grown rapidly. Knights has
specialists in all key areas of Corporate and Commercial law and Private
Wealth services. It is focussed on key UK markets outside London and currently
operates from 26 offices located in Birmingham, Brighton, Bristol, Carlisle,
Cheltenham, Chester, Exeter, Kidderminster, Kings Hill, Leeds, Leicester,
Lincoln, Manchester, Newbury, Newcastle, Nottingham, Oxford, Portsmouth,
Sheffield, Solihull, Stoke, Teesside, Weybridge, Wilmslow, Worcester and York.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AGMQKNBQPBKDPCB